Profits impacted by foreign exchange movements at bedding supplier

Bedding supplier Bedeck has reported a growth in sales but saw profit slip to a loss.

According to its latest filed accounts for the year ended 30 September 2023, total sales rose 1.9% to £32m from £31.4m in 2022.

Pre-tax losses resulted at £3.5m, down from its profit of £2.4m recorded the previous year.

Stated within its report, the company said that UK sales rose 2.4% to £29.5m from £28.8m, while Ireland revenues also increased, up 35.2% from £887,000 to £1.2m.

However, sales to the rest of the world decreased by 29.4% to £1.2m from £1.7m the previous year.

“Although Bedeck has made a loss for the year, this has been impacted by a large charge of £1.7m in relation to foreign exchange movements on forward contracts,” the company added. “Overall, the wider Bedeck Group has traded well in the period with a net profit of £1.5m as adjusted for the £1.7m charge.”

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